v unnikrishnan

freelancer,enjoys .temple arts,music,dance,drama etc.
.

[v unnikrishnan @vunnikrishnan1]

Good and Simple Tax law is being armtwisted to suit vested interests. Ref Removal of GST Audit.

[v unnikrishnan @vunnikrishnan1]

- NDTV https://t.co/X6GF3f86MS

[Rajdeep Sardesai @sardesairajdeep]

When our ‘new’ parliament building is water-logged, what chance do we the citizens have? Frankly, the haste with which the new building was constructed, singularly unaesthetic and with no character , while the wonderfully distinctive and charming old parliament building and iconic central hall lies mostly unused, is saddening. Tax payer monies going literally down the drain.

[CA Bimal Jain @BimalGST]

⚠️📛 𝗚𝗼𝗼𝗱 𝗡𝗲𝘄𝘀 𝗢𝗻 𝗦𝗲𝗰𝘁𝗶𝗼𝗻 𝟭𝟲(𝟰) 𝗼𝗳 𝘁𝗵𝗲 𝗖𝗚𝗦𝗧 𝗔𝗰𝘁:

📢 𝗜𝗻𝗽𝘂𝘁 𝗧𝗮𝘅 𝗖𝗿𝗲𝗱𝗶𝘁 (𝗜𝗧𝗖) 𝗱𝗲𝗻𝗶𝗮𝗹 𝗳𝗼𝗿 𝗯𝗲𝗹𝗮𝘁𝗲𝗱 𝗿𝗲𝘁𝘂𝗿𝗻-𝗳𝗶𝗹𝗶𝗻𝗴 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝗱; 𝗦𝘂𝗽𝗿𝗲𝗺𝗲 𝗖𝗼𝘂𝗿𝘁 𝗶𝘀𝘀𝘂𝗲𝘀 𝗻𝗼𝘁𝗶𝗰𝗲

➡️ The Supreme Court (SC) has issued a notice in response to a Special Leave Petition (SLP) filed by an assessee challenging a Patna High Court judgment that upheld the constitutional validity of section 16(4) of the CGST/Bihar GST Act, 2017.

➡️ Section 16(4) denies Input Tax Credit (ITC) for any invoice or debit note issued after the due date of furnishing returns under section 39, specifically for the month of November following the end of the financial year or the relevant annual return, whichever is earlier.

➡️ The petitioner argues before the SC that section 16(4) is confiscatory in nature, as the denial of ITC acts as a forfeiture of property in the form of a financial benefit when returns are filed late. The petitioner points out that the Revenue is collecting late fees for belated returns, which can be regularized, but ITC is permanently lost in the process.

➡️ The outcome of the case is pending as the copy of the order is awaited from the Supreme Court.

✔️ Supreme Court: MRITYUNJAY KUMAR v. THE UNION OF INDIA AND ORS. [SLP(C) No. 28270/2023]

#GST #GSTwithBimalJain #a2ztaxcorpllp #GSTUpdate #GSTcaseLaw #Advbimaljain

[manimohan @manimohan2]

A taxi driver shared his impression that the purpose of introducing more and more vande bharath trains was to gradually ease out the others so that fares silently go up. Could not find fault with the logic because it happened with low floor busses in TN.

[CA Bimal Jain @BimalGST]

⚠️💥 New GST Case Lawon Input Tax Credit (ITC) ; In favour of assessee

📢 Refund of accumulated ITC is admissible even if principal input & output have the same GST but other inputs have a different rate

➡️ The case involves the denial of a refund for accumulated Input Tax Credit (ITC) on Liquified Petroleum Gas (LPG), which was procured in bulk, compressed into liquid, refilled in cylinders, and sold.

➡️ The denial was based on the argument that both the input (LPG) and output (bottled LPG) attracted the same GST rate of 5%, but the court held that various items used in production, including safety accessories, had different GST rates, such as 18%.

➡️ The court emphasized that the term 'inputs' in the relevant provision indicated that the refund of accumulated ITC was not limited to a single input. The provision allowed for a refund if the tax rate on inputs was higher than the tax rate on output supplies.

➡️ The court rejected the notion of comparing the tax rate of the principal input with the tax rate of the principal output, stating that the provision did not require such a comparison. The tax rate of other inputs with different rates should also be considered.

➡️ The court ruled that CBIC Circular No. 135, which was related to ITC accumulated due to different rates at different times, was not applicable. The authorities were directed to process refund applications along with interest.

✔️ Delhi HC - Indian Oil Corporation Ltd. v. Commissioner of Central Goods & Services Tax [W.P.(C) NO. 10222 OF 2023]

#GST #GSTwithBimalJain #a2ztaxcorpllp #GSTUpdate #GSTcaseLaw #Advbimaljain

[v unnikrishnan @vunnikrishnan1]

@khushsundar Mamtha Banerjee, Mayavathi etc are exceptional.

[Nature is Amazing ☘️ @AMAZlNGNATURE]

this is the cutest video ever

[Unni Sankar @UnniSankar]

@NSMlive @sri50 @AmritaTV @azhimukham 8 1/2 intercuts - the fascinating documentary on the life and work of the immortal #KGGeorge. Kudos to the makers of this gem.

@neestream

https://t.co/rjSNnHu6bZ

[v unnikrishnan @vunnikrishnan1]

@ParveenKaswan Nice picture.

[Sashi Kumar @karuppadanna]

Earthy, vibrant, heart-capturing

https://t.co/ayA3V58wYp

[v unnikrishnan @vunnikrishnan1]

@sreecube @YouTube Really sincere and elegant speech apt to the memorial occasion

[v unnikrishnan @vunnikrishnan1]

@allindiantaxes @cbic_india @FinMinIndia @nsitharaman @nsitharamanoffc @gstchennainorth What's your views on following..
Amnesty in gst matters extended upto 31/8/2023.
Notn. No. 6/23
Doesn't it allow to adjust ITC otherwise admissible (here non filing of 3B ) , and off set for tax payable in cash ledger. Your expert advice please.
Unnikrishnan, cochin.

[v unnikrishnan @vunnikrishnan1]

Try not to miss it.

[T M Krishna @tmkrishna]

Will be performing on July 8th, Saturday at 4.30 pm along with Akkarai Sornalatha, Praveen Sparsh and N Guruprasad at St. Johns Auditorium, Bangalore. This concert is organized by The Shibulal Family Philanthropic Initiatives.
@AkkaraiSisters

[v unnikrishnan @vunnikrishnan1]

@PIB_India Revenue reported is from voluntary compliance.. What about blocked in pending litigation at various levels. Even after six years of gst, the lakhs of legacy cases in service tax has blocked lakhs of crores.. Amnesty appears only solution to do away with such cases
Unnikrishnan. V

[v unnikrishnan @vunnikrishnan1]

@sagarikaghose Why it was described as walking stick???

[v unnikrishnan @vunnikrishnan1]

@sumanthraman Great..

[Sumanth Raman @sumanthraman]

6 lanes are here. Where are the other 4? 😀

[v unnikrishnan @vunnikrishnan1]

@Cascadeglobal @cbic_india @DRI_Mumbai @UNODC @INTERPOL_TIGC @IRS_IN @CityPolicePIPCU @PMOIndia @OECDgov @ficci_india All the gold smuggling in air ports are with connivance only.may be 50% by cbic staff,balance by crew,ground staff ,security etc.The disgruntled employees at entry level at the cutting edge in cbic are easily dragged to conspiracy by smugglers . Disgruntlement to be addressed.

[v unnikrishnan @vunnikrishnan1]

@gstskt @cbic_india It should be followed by all commissioner s and later by divisions to clear the doubts.

[v unnikrishnan @vunnikrishnan1]

@PIB_India @narendramodi Bulk joining of large number of same age group in same cadre may prove to be detrimental to their career progression,.In almost all depts. Seniority is the norms for further https://t.co/1FKA7Ob9K5 shall be replaced by qualifying examination.